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Photon lowers ebitda forecast on M&A charges

Photon lowers ebitda forecast on M&A charges

Marketing services group Photon (ASX:PGA) has lowered its ebitda forecast for 1H10 to $31 million from $40 million, as a result of charges relating to two of its internet businesses.

The company said it expects accounting charges of $3.2 million from its acquisition of software and service company Dark Blue Sea (ASX:DBS).

The company has also exited one of its internet businesses, Geekversity, in a move which will incur non-recurring losses of $5.5 million.

But Photon said it expects a post-tax profit inline with its performance in 1H09, when it earned $9.5 million.

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Tags Mergers and acquisitionsinternetEBITDAPhoton

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